Trump administration calls off criminal probe into Fed Chair Powell
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“This morning the Inspector General for the Federal Reserve has been asked to scrutinize the building costs overruns — in the billions of dollars — that have been borne by taxpayers,” Pirro said in a post on X. “The IG has the authority to hold the Federal Reserve accountable to American taxpayers.”
“I expect a comprehensive report in short order and am confident the outcome will assist in resolving, once and for all, the questions that led this office to issue subpoenas,” Pirro added. “Accordingly, I have directed my office to close our investigation as the IG undertakes this inquiry. Note well, however, that I will not hesitate to restart a criminal investigation should the facts warrant doing so.”
Warsh’s confirmation now awaits a vote from the Senate Banking Committee before proceeding to the Senate floor, where the nominee will need to secure a simple majority. Powell’s term expired in March, but he said he will remain in the role until Warsh is confirmed.
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